Strategy of Luxury Branding Samples for Students †MyAssignmenthelp.co

Question: Discuss about the Strategy of Luxury Branding. Answer: Online retailing has been linked to promoting luxury brands I recent years with several brands registering huge sucess. Luxury brands have experienced a major increase in demand due in recent years as a direct result of online retailing. The internet has helped boost sales as well as deliver unmatched access of major brands to consumers who once couldnt reach out to the brands. This proposal will help you also understand the fundamentals linked to ecommerce and help boost your businesses performance. Ecommerce has made it possible for consumers from across the globe to now be able to access international brands which has had a direct effect on luxury brands. Most people having access to the internet and ecommerce are educated and financially stable and this social stature brings along with it the need to purchase internationally recognized and luxury brands(Mukherjee, Cuthbertson, Howard, 2014). To understand the influence of online retailing on the promotion of luxury brands the we bsite fast Company - The Biggest Business Comebacks of the Past 20 Years https://www.fastcompany.com/3042431/the-biggest-business-comebacks-of-the-past-20-years shall be reviewed. To find this data and information search terms like business comebacks and dying brands revived which will reveal important resources which can be used for the research. There is no doubt that the internet has had a direct effect on promoting luxury brands and this is directly linked to consumers today being able to access international fashion trends and approaches which also results in influencing the taste. Online retailing has a direct effect on several brands which had remained small and confined to certain markets due to other major brands monopolizing the markets(Collins, 2016). With the internet and ecommerce consumers have been able to discover these brands and many have found themselves growing rapidly in the past decade. brands have to infuse ecommerce and online retailing to their marketing strategies due to the internet having eliminated a single channel of communication which could be blocked by larger brands which monopolizing the market. With the internet having grown to be the primary mode of shopping and marketing, consumers are today increasingly being influenced by advertisements which promote international and luxury brands. With the trend now promoting international brands consumers are also opting to purchase international brands and luxury brands. This is resulting in the majority of internet users and online retailers registering and a huge increase in the demand for international and luxury brands as consumers are being influenced to purchase the brands so as to retain their social stature. In addition to online retailing, the social media has also been linked to play a huge role towards influencing consumer behaviour and their preference towards international and luxury brands(Close, 2012). With consumer linking to international networks fashion trends are quickly being spread across the globe by the social media. This is inciting the consumer to prefer purchasing luxury and international brands so as to remain ahead of fashion and retain their social status. Online retaining has been identified to deliver a devastating blow to the local brands which are today losing out due to international brands influences. Unlike the past when international and luxury brands were associated to being high cost, today competition is causing many of the brands to offer their products at reduced prices which are increasing pressure on the local brands. Many brands are now affordable and consumers are being influenced by international brands to maintain their social stature(Lee, Yao, Mizerski, Lambert, 2015). This has made it important for localized brands to consider alternative ways of promoting their brands among consumers so as to remain in businesses which is a negative effect online retailing has had on smaller brands. References: Close, A. (2012). Online Consumer Behavior: Theory and Research in Social Media, Advertising, and E-tail. East Sussex: Routledge. Collins, T. (2016). Mechanics of Online Reputation Management: Repair Control Your Name Or Brand Reputation Online. CreateSpace Independent Publishing Platform. Lee, A., Yao, J., Mizerski, R., Lambert, C. (2015). The Strategy of Global Branding and Brand Equity. Routledge. Mukherjee, M., Cuthbertson, R., Howard, E. (2014). Retailing in Emerging Markets: A Policy and Strategy Perspective. Oxon: Routledge.